fintech 101 –7. dönem İş modeli inovasyonucreativity and innovation shawn hunter, author of...

Fintech 101 – 7. Dönem

İş Modeli Inovasyonu

30 Nisan 2019, Fintech Istanbul

Mehmet GülezEY Danışmanlık Hizmetleri

Inovasyon Lideri

+90 532 245 55 31

[email protected]

The better the question. The better the answer. The better the world works.

Can we or should we change ourmindset?A brief survey that will give us insights into our own mindsets

Are we just genetically born with certain abilities and skills?

Are they learned?

Or is it some combination?

Question 1

► Intelligence/IQ is something very basic about a person.

You can learn new things but you can’t really change

your IQ.

<Scale>

1) Strongly agree

2) Agree

3) Disagree

4) Strongly Disagree

Question 2

►Only a few people will ever be great at sports –

you have to be “born with it.”

<Scale>

1) Strongly agree

2) Agree

3) Disagree


Question 3

►Recruiting great talent helps build high-performing

companies.

<Scale>

1) Strongly agree

2) Agree

3) Disagree


Looking at the survey results:

►Question 1: Intelligence/IQ is something very basic

about a person. You can learn new things but you

can’t really change your IQ.


► IQ/Intelligence can be grown


►Question 2: Only a few people will ever be great at

sports – you have to be “born with it.”


► Ability can be enhanced


►Question 3: Recruiting great talent helps build high-

performing companies.


►Question 3: Big talent is overrated

Enron the Smartest Guys in the Room

The people at Enron were smart, but

not as smart as they thought they

were.

They tried to trade it all: energy,

"weather derivatives," broadband

Internet access, water, news, you

name it. They failed and then they lied

about it.

►Mindset is a set of assumptions, methods

and ideas held by individuals or exercised

by a group.

► In Dr. Carol Dweck’s book,

Mindset: The New

Psychology of Success, How

we can learn to fulfil our

potential, she identifies two

types of mindsets. Fixed and

Growth Mindsets.

►Fixed Mindset believes

an individual’s abilities

are set in stone

►Growth Mindset believes

that an individual can

grow and develop their

abilities

Creativity and Innovation

Shawn Hunter, author of "Out Think:

How Innovative Leaders Drive

Exceptional Outcomes," (Wiley, 2013)

defines creativity as the capability or act

of conceiving something original or

unusual, while innovation is the

implementation or creation of

something new that has realized value

to others.

http://shawnhunter.com/

What is necessary for innovation?

Business Technology

People

Innovation


Can purpose drive the change of business models ?Can purpose support companies to face thechallanges of disruptive market conditions?

20th Century Corporate Lifecycle

21st Century Corporate Lifecycle

The Golden Circle: Apple

What

How

Why

What we doWe sell smartphones and computer

How we do itOur products are beautifully designed and easy to use

Why we existWe believe in challenging the status quo and doing things differently

Me

tho

ds

an

d t

oo

lsO

bje

cti

ves

Improve

workflow, increase skills,

and develop new

capabilities

Drive efficiencyand

effectiveness

Streamline organization, drive

out costs, and

improve/align

accountability

Align model with priorities and

enable strategy

execution

Promote growth, innovation, and

long-term

profitability

Define and deliver on a new

brand promise

and purpose

Capability Identity

Major Program TransformationOrganization

Design

Operating Model Design

Business Model Design

Purpose-Led Transformation

Tools and Technology

Process and

Function

Organization Structure

Operating Model

Business Model

Purpose

The Transformation Spectrum© is an umbrella construct to position EY’s transformation solutions along a spectrum helping our clients rapidly capture corresponding levels of value from their change initiatives

What is EY’s Transformation Spectrum©?

Research Execution

Companies Needs Both

Innovation is not an action it is a process

+

3 Stages of Lean Startup

Agile Engineering

CustomerDevelopment

Business Model Innovation

Stage 1

Stage 2

Stage 3

Business models became the management theory of the 21st century

e.g. price, margin

e.g. number of features, complexity, number of stakeholders, etc.

Operational excellence Customer intimacy Product leadership

► Access to high performance

► More features► More functionality

► Latest product technology

► Complexity► Linked with aesthetics and style

► Portray sophistication

► Innovation management

► Have a high level of customization

► Have high levels of personalized service

► Have a complete solution► Access to a wide selection

► Obtain advice and consultation

► Feeling of an “experience”

► To lower costs

► To increase convenience

► To be reliability► To be user friendly

► To have high volume

► To be lean

► To not make compromises

40%

60%

80%

20% Intended

strategicposition

Today

…and there might be more than one business model in a company

Number of features, complexity, number of stakeholders, etc.

Price, margin

Business Model Canvas : Nespresso

Key Partners Key Activities Value Proposition CustomerRelationship

CustomerSegments

Key Resources Channels

Cost Structure Revenue Streams

Machine

manufacturers

Coffee growers

Production

Marketing &

Branding

B2C Distribution

Distribution

ChannelsPatents

CoffeeProduction

facilities

Marketing & Branding

Nespresso

machines

Nespresso

pods

Acquire & lock-in

Nespresso

storesRetail

Mail order

& call

center

Nespresso

.com

Households

Households

Marketing &

Branding

Production

B2C Distribution

1 x machine sales

Repetitive pod

sales

Nespresso

machines

Nespresso

pods

Value Proposition Design

Design Thinking Method

Starting with a problem

Actionplan

Erweiterung des FokusLösungsraums

Erweiterung des Problemraums

Fokus

Problemraum Lösungsraum

UNDERSTAND DEFINE IDEATION PROTOTYPING TEST

Broad Focused Broad Focused

Problem space Solution space

Customer Segments

Value Proposition

What problems do

we solve?

What needs do we fulfill?

What products and services do we

offer?

Customersegments

Which geographies

and customersegments do we

want to serve with

our products,

services and

concepts?

The Value Propositions Building Block describes the bundle of products & services that create

value for a specific Customer Segment

FIT

Core Value Job(s) to get done

Value Proposition Canvas

Value Proposition

Gain Creators

Pain Relievers

Products, Application or

Service

Gains

Pains

Jobs to get done

Customer Segment

FIT


Gains

Pains

Jobs to get done

Jobs to get doneCustomer Segment

► Describe what a specific customer segment is trying to get done. It could be the tasks they are trying to

perform and complete, the problems they are trying to

solve or the needs they are trying to satisfy

Gains

► Describe the benefits your customer expects, desires

or would be surprised by. This includes functional utility, social gains, positive emotions, and cost savings

Pains

► Describe the emotions, undesired costs and situations,

and risks that your customer experiences or could experience before, during and after getting the job

done


Value Proposition

Gain Creators

Pain Relievers

Products, Application or

Service

Products & Services

► Lists all the products and services your value

proposition is built around.

► Which products and services do you offer that help

your customer get either a functional, social or emotional job done, or help him/her satisfy basic needs

Gain Creators

► Describes how your product and services create

customer gains. How do they create benefits your customer expects, desires or would be surprised by,

including functional utility, social gains, positive

emotions, and cost savings?

Pain Creators

► Describe how your products and services alleviate

customer pains. How do they eliminate or reduce negative emotions, undesired costs and situations, and

risks your customer experiences or could experience

before during, and after getting the job done

Example: Nespresso

Value Proposition Customer Segment

FIT

High pressure enables better quality as

competitors

Image of

stylish

person

Nice

design

One or two

button usability

Affordable pricing

(pads pay for subsidized machine)

Only clean

up of coffee mug

No

safety

issues

Prepacking

guarantees same

high quality

Nespresso

machines

Nespresso

pads

Nespresso

club

Stylish or

luxury tool

High quality

(good taste)

coffee

Time

efficient

coffee

Did I turn

the coffee

machine

off?

Clean up

of tool/ machine

necessary

High price

for high

end

products

Different

mixing ratio

leads to

changing

taste

Saves

time

No (little)

clean up

necessary

Easy to

buy/ order

Constantly

good taste

Social

Status

Product

Customer Job(s)

Process, Application or Service

Pains

Gains

Pain Relievers

Gain Creators

Are embedded in a great business

model

10 Characteristics of Great Value Proposition

Differentiate from competition in a 6 meaningful way

Focus on few pain relievers & gain 2 creators, but do those extremely wellAddress functional, emotional and 7 social jobs all together

Align with how customers measure 3 successOutperform competition substantially8 on at least one dimension

Focus on the most significant jobs,

most severe pains, and most relevant gains

9 Are difficult to copy

Focus on jobs, pains or gains that a 5 large number of customers have

Focus on unsatisfied jobs, pains and 10 gains

1

4


How can we create 10x Business Models?

Kodak case…

Blockbuster case…

Ryanair Case…

How do you create value…

Nespresso

Apple iTunes

Definition of Business Model

A business model is a blueprint of how a company creates

and captures value.

Definition of Business Model Innovation

A business model innovation introduces a new logic of how

a company creates and captures value by changing multiple

dimensions of a business model.

Business Model Generation

Business Model Navigator

Business Model PatternRazor Blade

Business Model PatternFreemium

Business Model PatternPeer-to-Peer

Business Model PatternSubscription

THE BUSINESS MODEL CANVAS

Describes the rationale of how an organization creates, delivers,

and captures value

A BUSINESS MODEL

CUSTOMER SEGMENTS1

VALUE PROPOSITION2

CHANNELS3

CUSTOMER RELATIONSHIPS4

REVENUE STREAMS5

KEY RESOURCES6

KEY ACTIVITIES7

KEY PARTNERS8

COST STRUCTURE9

Key Partners

Key Activities

CustomerSegments

Customer Relationships

Cost Structure Revenue StreamsChannelsKey Resources

Value Propositions


Can we still design new models?

What about business models in the hospitality industry?

HILTON’S BUSINESS MODEL

Affordable luxury for the

people

add value

CITIZEN M: TRUE BUSINESS MODEL INNOVATION


Why don’t we have a small break?

Business Model

Innovation Workshop

1 Start with customer segments

2 Use different colors for different customer segments

3 Each customer segment is addressed by one or more value proposition

BMC Ground Rules:

WHAT KIND OF RELATIONSHIP DO WE MAINTAIN WITH OUR CUSTOMERS?

PERSONAL CONTACT?

AUTOMATIC? SELF-SERVICE?

THROUGH WHAT CHANNELS DO WE

DELIVER OUR PRODUCTS AND

SERVICES?

WHAT CUSTOMER NEEDS DO WE SATISFY?

WHAT PROBLEM DO WE HELP OUR CUSTOMERS

SOLVE?

WHAT ADVANTAGES DO OUR PRODUCTS AND

SERVICES PROVIDE OUR CUSTOMERS WITH?

WHAT PRODUCTS AND SERVICES DO WE DELIVER

TO OUR CUSTOMERS

WHAT TYPE OF KEY ACTIVITIES DO WE

PERFORM?

WHAT KEY RESOURCES DOES OUR PROPOSITION

REQUIRE?

PHYSICAL? INTELLECTUAL?

HUMAN? FINANCIAL?

WHO ARE OUR KEY PARTNERS?

WHAT IS OUR MOTIVATION TO

WORK WITH PARTNERS?

WHAT KEY RESOURCES DO WE ACQUIRE THROUGH

PARTNERS?

WHAT KEY ACTIVITIES DO OUR

PARTNERS PERFORM?

WHO IS OUR CUSTOMER?

FOR WHOM DO WE CREATE VALUE?

CAN WE DISTINGUISH DIFFERENT CUSTOMER SEGMENTS?

WHAT IS THE SIZE OF EACH COST? WHAT REVENUE STREAMS DO WE GENERATE?

WHAT IS THE SIZE OF EACH REVENUE STREAM?

KEY PARTNERS

KEY VALUES VALUE PROPOSITION

CUSTOMERRELATIONSHIPS

CUSTOMERSEGMENTS

CHANNELS

KEY RESOURCES

COST STRUCTURE REVENUE STREAMS

DESIGN YOUR CURRENT BUSINESS MODEL

WHAT TYPES OF COSTS DO WE GENERATE?

PRESENT YOUR BUSINESS MODEL CANVAS

#Q1

7 QUESTIONS TO ASSESS YOUR BUSINESS MODEL

#Q2

#Q3

#Q4

#Q5

#Q6

#Q7

How much do switchingcosts prevent yourcustomers from churning?

Churn Rate: the amount of customersthat are leaving you

How scalable is your business model?

Scalability: How easy is it to expand yourbusiness without addingcorresponding expenses?

Does your business model produce recurring revenues?

Recurring revenue: Revenue a business can count on receivingevery single month. Revenue that is predictable and stable

Do you earn beforeyou spend?

How much do you get others to do the work?

Does your business model provide protection from competitors (lock-in)?

Is your business model based on a game-changing cost structure?

HOW CAN YOU 10X THE POTENTIAL OF

YOUR BUSINESS MODEL?

http://strategyzer.com/vpd



















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fintech 101 –7. dönem İş modeli inovasyonucreativity and innovation shawn hunter, author of...

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